AvalonBay Communities Inc (NYSE:AVB) to Issue $1.59 Quarterly Dividend

AvalonBay Communities Inc (NYSE:AVB) announced a quarterly dividend on Tuesday, May 12th, RTT News reports. Stockholders of record on Tuesday, June 30th will be given a dividend of 1.59 per share by the real estate investment trust on Wednesday, July 15th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.22%.

AvalonBay Communities has increased its dividend payment by an average of 3.8% per year over the last three years and has increased its dividend every year for the last 8 years. AvalonBay Communities has a dividend payout ratio of 136.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect AvalonBay Communities to earn $9.77 per share next year, which means the company should continue to be able to cover its $6.36 annual dividend with an expected future payout ratio of 65.1%.

AvalonBay Communities stock traded down $0.77 during mid-day trading on Wednesday, reaching $150.73. 68,238 shares of the company were exchanged, compared to its average volume of 1,081,470. The firm has a market cap of $21.09 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 3.78 and a beta of 0.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.40 and a current ratio of 0.40. AvalonBay Communities has a twelve month low of $118.17 and a twelve month high of $229.40. The firm’s 50-day simple moving average is $154.82 and its two-hundred day simple moving average is $197.41.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.20%. The firm had revenue of $547.51 million during the quarter, compared to analysts’ expectations of $596.58 million. During the same quarter last year, the business posted $1.23 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that AvalonBay Communities will post 9.32 EPS for the current year.

Several research analysts have commented on AVB shares. Mizuho lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $241.00 to $144.00 in a research report on Thursday, April 2nd. Morgan Stanley cut their price objective on AvalonBay Communities from $226.00 to $143.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Zacks Investment Research downgraded shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $171.00 price objective on the stock. in a research report on Friday, April 17th. TheStreet cut shares of AvalonBay Communities from a “b-” rating to a “c+” rating in a research note on Thursday, March 19th. Finally, Jefferies Financial Group raised shares of AvalonBay Communities from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $234.00 to $248.00 in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $199.33.

AvalonBay Communities Company Profile

As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.

Further Reading: Diluted Earnings Per Share

Dividend History for AvalonBay Communities (NYSE:AVB)

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